You were mentioned to it by Joe Jackman, likely nothing serious to be concerned about.
The issue appears to be with your volume control software. It might be a bug, or there could be malware named svchost.exe running alongside it. Check Windows 10's Volume Mixer instead to verify. If the problem persists, it may involve a virus or malicious program using svchost.exe.
If it's not malware, it's likely just a program. Shut down all applications, even those running in the background, until they vanish. Or turn off every startup program, reboot your device, and check if it appears, starting with the ones you don't use.
Occasionally malware disguises itself using the svhost naming pattern. It tends to stand out because it doesn’t blend in with other files and shows unusual network and CPU activity. Security tools like Windows Defender or Malwarebytes usually catch these. Often, a simple software issue causes it to appear.